RE:Shorts Have 5 Trading Sessions to CoverLumberfeverlong wrote: Smart shorts have already started to cover. There is only 5 days before the company releases Q2 numbers. Recent press release suggests they will be in line with guidance meaning the dooms day scenario the shorts have been painting is not unfolding. There will be upward pressure on the price as institutional investors start piling in and combined with greedy shorts belatedly covering, this stick is going to shoot up like a rocket. Whatever you do, do not sell your shares until this gets back to above $50 becuase it will sooner than you think.
Are we talking about the same CXR that issued a press release on August 3, 2016 which did not say one word about any revision in guidance, then, only 9 days later (August 12, 2016), revised their 2016 revenue guidance downward from $1,020 - $1,060M to $859 - $888M......?......What changed over those 9 days in early August to cause CXR to drop guidance so much....?......
I don't trust Mark Thompson at all, and the fact that it's almost then end of September and he still hasn't finalized a deal to sell the company or submitted his resignation suggests to me that it's highly unlikely anyone wants to acquire the company and the Board is unwilling to remove Mr. Thompson as Chair and CEO......
The shorts who have covered have made a lot of money while longs have lost a lot of money......and those who are still short may get some extra cash the way things are going......
Seriously, what is this business worth given their dismal outlook in the USA and Great Britain.....?.......Who would want to buy the company when there is a decent chance this company may go under within a year to two and other pharma companies can pick at CXR's carcass in liquidation, acquiring those CXR assets they like without having to take on any of the $3 Billion in debt.....?